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Commodity Price Shocks and Fiscal Outcomes

Spatafora, Nicola - 2013

The experience of developing countries over 1990-2010 indicates that commodity prices have a significant impact on fiscal outcomes. Both revenue and expenditure rise in response to commodity (import or export) price increases; the response of the fiscal deficit is ambiguous. A floating exchange...

Persistent link: https://www.econbiz.de/10013090367

Getting to Know GIMF : The Simulation Properties of the Global Integrated Monetary and Fiscal Model

Anderson, Derek - 2014

The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the GIMF, this paper illustrates the model's...

Persistent link: https://www.econbiz.de/10013064363

The (Subjective) Well-Being Cost of Fiscal Policy Shocks

Eklou, Kodjovi - 2020

Do discretionary spending cuts and tax increases hurt social well-being? To answer this question, we combine subjective well-being data covering over half a million of individuals across 13 European countries, with macroeconomic data on fiscal consolidations. We find that fiscal consolidations...

Persistent link: https://www.econbiz.de/10012840601

Debt Sustainability in Low-Income Countries : Policies, Institutions, or Shocks?

Bal-Gunduz, Yasemin - 2017

This paper estimates the determinants of external debt distress in low-income countries (LICs), disentangling the roles of institutions, shocks, and policies. The most prominent factors in raising the risk of debt distress are the weak protection of private property rights, adverse shocks to...

Persistent link: https://www.econbiz.de/10012955177

Tax Reforms and Fiscal Shock Smoothing

Amaglobeli, David - 2019

This paper examines the role of tax policy reforms in enhancing fiscal shock smoothing in a panel of 13 OECD economies … magnitude of shock smoothing increases from an average of 2 percent to 3-31/2 percent following the reform. The effects are … symmetric-that is, the increase in shock smoothing following a reform expanding the tax base (rate) is similar to the decline in …

Persistent link: https://www.econbiz.de/10012868266

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union : A Model-Based Approach

Forni, Lorenzo - 2014

We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical evidence, we make the following three key assumptions. First, sovereign debt is held by domestic agents...

Persistent link: https://www.econbiz.de/10013059858

The Distributional Effects of Government Spending Shocks in Developing Economies

Furceri, Davide - 2018

We construct unanticipated government spending shocks for 103 developing countries from 1990 to 2015 and study their effects on income distribution. We find that unanticipated fiscal consolidations lead to a long-lasting increase in income inequality, while fiscal expansions lower inequality....

Persistent link: https://www.econbiz.de/10012922628

Imported Food Price Shocks and Socio-Political Instability : Do Fiscal Policy and Remittances Matter?

Meyimdjui, Carine - 2021

Using a panel of 101 low- and middle-income countries with data covering the period 1980-2012, this paper applies various econometric approaches that deal with endogeneity issues to assess the impact of food price shocks on socio-political instability once fiscal policy and remittances have been...

Persistent link: https://www.econbiz.de/10013252035

The Sources of Fiscal Fluctuations

Levy, Antoine; Ricci, Luca A.; Werner, Alejandro M. - 2021

This paper assesses the dynamic impact of global macroeconomic conditions, commodity price movements, shifts in portfolio preferences, and domestic shocks on fiscal outcomes-notably the budget deficit, its main components, and debt-across a wide range of countries. Heterogeneity is investigated...

Persistent link: https://www.econbiz.de/10013252184

Food Price Shocks and Household Consumption in Developing Countries : The Role of Fiscal Policy

Meyimdjui, Carine; Combes, Jean-Louis - 2021

This paper studies whether fiscal policy plays a stabilizing role in the context of import food price shocks. More precisely, the paper assesses whether fiscal policy dampens the adverse effect of import food price shocks on household consumption. Based on a panel of 70 low and middle-income...

Persistent link: https://www.econbiz.de/10013243071

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